Adani ready to improve DHFL offer

NEW DELHI: Billionaire Gautam Adani's roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money.

In an email written to the administrator, who is running the DHFL auction under insolvency process, the Adani Group said it has followed due process scrupulously and its “intent has always been to provide an unconditional offer and potential value maximisation for all the stakeholders and at the same time ensuring an expeditious consummation of the process”.

In the email, uploaded on DHFL data room, the Adani Group said it was pained at some bidders resorting to media to sensationalise issues with an aim to prevent value maximisation for the lenders and depositors.

Four entities – Adani Group, Piramal Group, US-based asset management company Oaktree Capital Management and SC Lowy – submitted bids for DHFL in October but lenders, who are getting DHFL auctioned to recover unpaid loans, wanted suitors to revise their bids as original offers were low.